- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
(1)If, during the period—
(a)beginning with 17th July 1995, and
(b)ending with the day preceding the passing of this Act,
any rights have been obtained by a person under an approved share option scheme in circumstances falling within subsection (2) below, the rights shall be treated for the purposes of sections 185 to 187 of, and Schedule 9 to, the Taxes Act 1988 as being rights obtained otherwise than in accordance with the provisions of an approved share option scheme.
(2)The circumstances mentioned in subsection (1) above are circumstances such that, on the assumptions in subsection (3) below, there would, by virtue of paragraph 28 or 29 of Schedule 9 to the Taxes Act 1988 (limit on what may be obtained and requirements with respect to price), have been, with respect to the operation of the scheme, a contravention of any of the relevant requirements or of the scheme itself.
(3)The assumptions mentioned in subsection (2) above are—
(a)that the amendments made by subsection (2) of section 114 above had effect at all times on and after 17th July 1995;
(b)that the amendments made by subsections (3) to (7) of that section had effect in relation to rights obtained at any time on or after that date; and
(c)that the provisions of paragraphs 1(1) and 2 to 5 of Schedule 16 to this Act had effect at all times on and after 17th July 1995, but with the substitution for references to the day on which this Act is passed of references to that date.
(4)For the purposes of this section, rights obtained by a person on or after 17th July 1995 shall be treated as having been obtained by him before that date if—
(a)the scheme in question is one approved before that date;
(b)an offer of the rights or an invitation to apply for them was made in writing to that person before that date; and
(c)he obtained the rights within the period of thirty days beginning with the day on which the offer or invitation was made.
(5)In this section—
“approved share option scheme” means an approved share option scheme, within the meaning of section 185 of the Taxes Act 1988, other than a savings-related share option scheme;
“relevant requirements” has the meaning given in paragraph 1(1) of Schedule 9 to the Taxes Act 1988;
“savings-related share option scheme” has the meaning given by Schedule 9 to the Taxes Act 1988.
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Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
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